MARTINSRIED (dpa-AFX) - Medigene AG (MDGEF.PK) announced that its marketing partner, Pharmanova d.o.o., will begin commercializing Veregen for the treatment of genital warts in Serbia on April 19, 2013. The company said that the Serbia will be the fifth European country where Veregen is available, in addition to Germany, Austria, Switzerland, and Spain. Veregen is also available in the USA.
As per the agreement between Medigene and Pharmamova, Medigene received a milestone payment upon marketing approval of the drug and is entitled to future sales milestone payments. Moreover, Medigene will receive a double-digit percentage of the Veregen sales revenue as royalties and will generate further income from the sale of finished product supply to Pharmanova.
Medigene noted that it has entered into several Veregen marketing partnerships across Europe, Asia, and America and is planning to continue this global licensing strategy to further leverage the product's market potential.
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